2011-2012The Raptors started their 2011 offseason by signing first overall pick Kyrie Irving. Wayne Embry continued the longtime Raptors tradition of signing mediocre talent to albatross contracts they are undeserving of by resigning Joey Dorsey to a three year extension. Embry also initiated a three team trade with the Sixers and Trail Blazers that sent Gerald Wallace to Philly, Portland's 2012 first rounder to Toronto, Jerryd Bayless to Portland, Nocioni's contract and draft rights to sign Terrence Jones (from Sixers) to the Raptors. The trade basically gave Portlad cap flexibility to sign Wilson Chandler, opting for a younger but more inconsistent option.
As the season went on, the Raptors couldn't find a veteran presence to help them lead in games. They even went as far as signing Tracy McGrady mid season, and expected him to play the leader role that the youngsters can look up to. This move backfired and lazy eyes was sent to the inactive list. Instead of bringing leadership to the team, he brought his antics from a year ago in Detroit and eventually frustrated coach Triano.
In December 2011, Embry made use of the Raptors' cap flexibility that Colangelo bragged about back in his days. He had the Raptors participate in a three team trade with OKC and Minnesota, sending Portland's 2013 first rounder to the Thunder for Eric Maynor, cash considerations to the Wolves for Wes Johnson who was having a year of regression in Minny at that time averaging just 7.8 points per game. The Wolves received Jeff Green (signed in free agency) from the Thunder.
Johnson would be part of the Raptors' starting five, and the first five of Irving, DeRozan, Johnson, Davis and Bargnani alongside the bench of Maynor, Barbosa, James Johnson, Terrence Jones and Amir Johnson showed plenty of inexperience and inability to close out games down the stretch. At the start of February, Amir Johnson went down with a Torn MCL and would miss 6-8 months of play. The Raptors were forced to call up Solomon Alabi from the NBDL, and, in what looked like a panic gesture, Embry stepped down from his interim GM role. Here is how the Raptors found their next GM:

Novice GM john26 quickly won the hearts of the Raptors fans by getting good value for Bargnani. Right before the trade deadline, the rookie executive traded away the former first overall pick + Tracy McGrady to the Wizards, who expressed genuine interest in his services for JaVale McGee. McGee would later be flipped to the Kings for Jason Thompson.
With just less than half a season to play, the Raptors failed to fully integrate the former Rider standout and "narrowly" missed the postseason for a 4th straight year. Highlights of the season included Irving winning Rookie of the Year honours, first to do so since Vince Carter in 1998, and Ed Davis, former All-Rookie 2nd team selection a year ago, participating in the Rookie-Sophomore contest for the Sophs in the ASW.
In the NBA Finals, Derrick Rose helped lead the Bulls to a championship, winning 4-2 against Oklahoma City. Rose was named the Finals' MVP. Other awardees were Tyrus Thomas, Bobcats (6th man), Josh Smith, Hawks (DPOY) and Ramon Sessions, Cavs (MIP). Tom Thibodeau was named COTY.
2012-2013The Raptor started their 2012 offseason by drafting Cesar Rivera out of Argentina, who was compared by scouts to Rafael Araujo. The selection changed the fans' view of john26's executive decision. But the GM quickly reclaimed the fans' trust by shipping his draft rights with Eric Maynor to the Pacers for Lance Stephenson, Tyler Hansbrough and the Pacers' 2013 first round selection. Hansbrough was subsequently dealt to the Lakers for a first rounder and Luke Walton while Stephenson was shipped to the Clippers right before the season started for Craig Smith and another future first rounder.
Around the league, Chris Paul bolted and went to sign with the Suns while Dwight Howard stayed with the Magic. Steve Nash retired and was inducted to the HOF.
The Raptors opened their season with only one backup guard (Barbosa) so they signed Raja Bell to the league minimum. Toronto started out well, with Irving running the point, DeRozan as the team's star, Johnson as the reliable second option and Davis and Thompson manning the backcourt. They reached a season high 6 games above .500 around January. GM john26 received praise and respect around the league for saving the league's lone Canadian franchise, for acquiring young but promising pieces in Johnson and Thompson. The GM continued his persistent tinkering of the roster and was able to acquire Terrence Jones for Wilson Chandler from the Blazers in a 1-for-1 deal. But injuries to Irving, Davis and Thompson sent the high-flying Raptors back down to the face of the earth. They would drop 7 of 9 at the start of February and an embarrassing loss to the Bobcats got the young GM working the phones to look for a new coach.